Eastman Realigns Management Structure to Support Growth Strategy

Published on 2006-03-08. Author :
SpecialChem

KINGSPORT, Tenn. -- Eastman Chemical Company (NYSE:EMN)
announced a realignment of its organizational structure and related senior
management assignments.

"The changes we're announcing give us a management and organizational
structure that is aligned to implement our corporate growth strategy,"
said Brian Ferguson, chairman and CEO. "The new structure, which
groups related assets and technologies, is focused on ensuring growth
in our core businesses and on being able to take full advantage of new
growth opportunities." The changes are effective April 1, 2006.

Ferguson announced that James P. Rogers, 54, will serve as president,
chemicals and fibers business group, which includes additional responsibilities
from his current position as executive vice president. The chemicals and
fibers business group will consist of the company's performance chemicals
and intermediates; fibers; and coatings, adhesives, specialty polymers
and inks segments. Rogers will also be responsible for supply chain, worldwide
manufacturing support, chemicals and fibers market development and innovation,
and the management of regions outside the United States.

Gregory O. Nelson, 54, has been named executive vice president, polyesters
business group. He is currently senior vice president and chief technology
officer. The polyesters business group includes the company's polymers
and specialty plastics segments. In addition, Nelson will have responsibility
for polyesters market development and innovation.

Ronald C. Lindsay, 47, has been appointed senior vice president and chief
technology officer, replacing Nelson in that position. Lindsay is currently
vice president and general manager of the company's performance chemicals
and intermediates segment.

"By bringing together our chemicals and fibers segments into one
group, we'll benefit from the synergies among our performance chemicals
and intermediates; fibers; and coatings, adhesives, specialty polymers
and inks segments," Ferguson said. "And combining the strengths
of our polyesters segments into one group, which will include our polymers
and specialty plastics segments, will enable us to take advantage of our
integrated polyester strategy. This structure, which is built around common
technologies and streams, will provide the maximum opportunity to successfully
implement our growth initiatives. It also brings a stronger focus on the
capabilities within our core businesses.

"We're excited about the expanded opportunities for collaboration
across all our related assets and technologies that this structure will
provide," Ferguson said. "Eastman has an 86-year legacy of customer
service, operational performance and employees dedicated to excellence.
By putting these leaders and organizations together in this new structure,
we're building on those strengths and capabilities to help us achieve
success in the future."

Eastman manufactures and markets chemicals, fibers and plastics worldwide.
It provides key differentiated coatings, adhesives and specialty plastics
products; is the worlds largest producer of PET polymers for packaging;
and is a major supplier of cellulose acetate fibers. Founded in 1920 and
headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with
2005 sales of $7 billion and approximately 12,000 employees.